Re Mallee Resources Limited (Administrators Apptd) (Receivers & Manager Apptd)

The urgent application before the Supreme Court of Western Australia was brought by the joint and several administrators of several companies within the Mallee Resources Limited group, seeking an extension of the period within which the second creditors' meeting must be convened and associated orders. The primary orders sought were an extension of the convening period by six months and a Daisytek order permitting the convening of the second creditors' meeting at any time during or within five business days after the extended convening period. The administrators argued that the extension was necessary to allow the receivers to complete a recapitalisation and/or sale process, which in turn would maximise the return for creditors. The court accepted that the administrators' reasons for the extension were cogent and granted the relief sought, noting the significant factors in support of the extension, including the support of the secured creditor and the absence of opposition from unsecured creditors. The court granted the extension and the Daisytek order, with orders for prompt notification to creditors and liberty for interested parties to apply to vary or discharge the orders.